An audit is an objective study and evaluation of the
organization's financial statements to ensure that the records are a correct
and accurate representation of the transactions that are supposed to represent.
The audit can be performed internally by employees of the organization or
externally by an external company.
Having an effective management system is crucial for the
company as it lets you achieve and achieve a variety of business goals.
Business processes require different forms of internal control to facilitate
monitoring and monitoring, preventing and detecting uncontrolled operations,
measuring existing performance, maintaining relevant business records, and
increasing operational efficiency. Internal auditors review an internal audit
plan and informally offer improvements and, when wise enough, document any
unlawful actions that the management may make in the future investigation.
Reduce Company Risk Management
The auditors assess the risk of material misstatements in
the company's financial statements. Without an internal control system or an
audit system, the company is not able to create reliable financial statements
for internal or external purposes. In this way, you will not be able to
determine how to allocate your resources and will not be able to know which of
your product segments or lines are profitable and which are not.
Furthermore, it cannot manage its business as it will not be
able to disclose the status of its assets and liabilities and will be compromised
on the market due to its inability to reliably produce its goods and services.
As a result, the audit system is essential to prevent distortions in
relationships and corporate relationships.
Conclusion
Finally, I congratulate those who want to enter the
profession of accounting and supervision to choose such an intellectual and
dynamic field. Your future profession is crucial to the integrity of the
investor market and to the entire financial system's infrastructure.
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